Hrant Bagratyan to Tigran Sargsyan: This is a cynical lie

During the Third International Pension Conference held in Yerevan on February 21, Armenian Prime Minister Tigran Sargsyan asked how Armenians are going to tackle the pension issue, if Armenia is an aging country.

“This is a cynical lie. He is trying to delude people and save the absurd pension reform,” says Hrant Baghratyan.

“Pensions cannot be a burden for us even if we refuse to switch to the funded system. The pension fund makes 5 percent of the GDP. Let us consider the picture in Russia, France and Ukraine where the pension fund makes 10-15 percent of the GDP. Why is the index the lowest in Armenia? The reason is that pensions are very low in Armenia. Today the average retirement pension in Armenia makes 23 percent of average wages. In Ukraine, it makes 45 percent, in Russia – 30 % and in the EU – 45%. We still have to grow…”